Senate Democrats Agree With Obama To Raise Taxes On 1.2 Million Small Businesses And Destroy 700,000 More Jobs. Compare Their Failure To Reagan.

This is Obama’s “If you’ve got a business, you didn’t build that. Somebody else made that happen” as it matriculates into our tax policy.

You need to go back and understand Obama’s argument. What he was very clearly saying is that government basically built everything that allows businesses to succeed. And therefore businesses – which owe their success to government – should pay more taxes.

Government built the roads that murderers used en route to their murders. Government built the schools that rapists used on their way to becoming rapists. You can’t take these things that EVERYBODYbenefits from and which only exist in the first place because TAXPAYERS built them for everybody to benefit from and then claim that they in any way, shape or form account for the success of businesses who got where they got by their hard work. The argument that Obama offered and which the Democrat Party accepted lock, stock and barrel suffers from vicious infinite regress: Government does things, which justifies more govenment. More government does even more things, which justifies still MORE government. Still MORE government does still more things, which justifies yet more government. And so on ad naseum.

The vicious regress is one of the most glaringly obvious results of poor thinking in logic and philosophy; and yet a vicious infinite regress literally forms the epicenter of the entire liberal worldview.

Anyone but a FOOL ought to immediately understand that the things that Government has provided are NOT the reason that business owners succeed. Because not only criminals but every slacker on welfare ALSO uses schools and roads and government loans and the Internet. The reason that businesses succeed is because successful business owners had dreams, worked hard to fulfill those dreams, had good ideas, demonstrated individual responsibility and took individual initiative, made difficult choices, saved and invested while others spent, etc.

And Barack Obama as an individual and the Democrat Party as a political group are nakedly evil for trying to falsely claim credit for the success of business and saying to them, “You OWE us for your success.” But regardless of the smokescreens and lies they now blather in front of every microphone, the ugly, diseased cat is out of the bag. When Government says, “We should be able to redistribute your wealth because we made all of your success possible, they end up punishing wealth creation and success and undermining the economy of everyone. Except the slackers.

Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.

This is President Obama’s economic plan. This is what he asked Congress to do. And he recently told a fundraising crowd that his economic plan has been working.

But Obama’s Treasury Secretary, Timothy Geithner, said yesterday that “the economy is not growing fast enough,” acknowledging that “unemployment is very high.” “The institutions with authority should be doing everything they can to try to make economic growth stronger,” he said.

The President’s plan, now endorsed by the Democratic majority in the Senate, has little chance of going anywhere in the House of Representatives. But it has put the 51 Senators who want to raise taxes on record.

Perhaps the biggest lie in the tax debate is that this vote affects only “the rich.” That’s simply not true. Many small businesses, known as flow-through businesses, pay their taxes through the individual income tax. Ernst and Young estimates that these types of businesses “employ 54% of the private sector work force.” This tax hike squarely hits 1.2 million of these businesses that hire workers and have incomes above $200,000.

Rather than punishing just “the rich,” as Heritage’s Curtis Dubay notes, “By pinpointing his tax increase on incomes over $200,000, President Obama has maximized the detrimental impact that his tax increase would have on job creation.”

The Ernst and Young study on the impact of this tax hike showed that it could kill more than 700,000 jobs. This isn’t surprising, since the businesses it targets are some of the country’s most robust job creators. But it is surprising that a majority of the Senate would go along with this plan when the country is suffering from 8.2 percent unemployment.

As if that weren’t enough, the Senate’s actions would also raise the death tax from 35 percent to 55 percent. This confiscatory rate would hit small businesses and family farms exceptionally hard. Dubay explains:

The death tax is often portrayed as a tax that only rich heirs pay. In reality, the death tax hits family-owned businesses hardest. These businesses are valuable on paper because they have many assets that they need to make and sell their products. But the businesses’ book values are not representative of the families’ liquid assets. When a family member passes on, these families often have to sell all or part of the business to raise the cash to pay the death tax. This slows the growth of these businesses and in some cases forces them to lay off existing workers.

The Senate’s vote means we are no closer to preventing Taxmageddon, the nearly $500 billion tax increase scheduled to hit Americans on January 1. It is difficult to imagine the economy sustaining such a blow. Families will be hit with an average tax increase of more than $4,100 next year if Congress allows this to go forward. Instead of preventing this calamity, the Senate voted to raise taxes. It simply boggles the mind.

We’re going backward while Obama demagogues and exploits the small business owners who built this country far more than bigger “Government” – which itself was an anathema to the founding fathers who wrote our Constitution – ever did.

One Response to “Senate Democrats Agree With Obama To Raise Taxes On 1.2 Million Small Businesses And Destroy 700,000 More Jobs. Compare Their Failure To Reagan.”

MichaelE: Well, I guess I didn’t build that extra room on my house either, stupid potus…what an illegitimate punk potus and insult he is.Never in my life have I witnessed such contempt for the American people as this punk potus. What scares me the most MichaelE is the blind electorate that follows this moronic potus.